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Forex Indicator Market Profile

Market Profile Indicator — is a classic Market Profile implementation that can show the price density over time, outlining the most important price levels, value area and control value of the daily trading session. This indicator can be attached to M5, M15 and M30 charts and will show the Market Profile for the daily sessions. Although M5 timeframe offers higher precision, M30 timeframe is recommended due to its better visibility. Three different color schemes are available to draw the profile's blocks. This indicator is based on bare price action and doesn't use any standard MetaTrader indicators. It's available for both MetaTrader 4 and MetaTrader 5 platforms.

Input parameters:

  • StartFromDate (default = '') — if StartFromToday is false then the indicator will start drawing profiles from this date. It draws to the past. For example, if you set it 2010.07.20 and DaysToCount is 2 then it will draw the profiles on 2010.07.20 and 2010.07.19.
  • StartFromToday (default = true) — if true then the indicator starts drawing from today, else — from the date in StartFromDate.
  • DaysToCount (default = 2) — for how many daily sessions to draw the market profiles.
  • ColorScheme (default = 0) — color scheme for profile's blocks:
    • 0 — blue to red.
    • 1 — red to green.
    • 2 — green to blue.
  • MedianColor (default = White) — color of the control value (median).
  • ValueAreaColor (default = White) — color of the value area border.
 

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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